Finding 578424 (2023-001)

Item 2023-001 - Operating Budget Program: Public and Indian Housing Requirement: A budget must be developed and maintained for each Public Housing project, including analysis actual revenues and expenses. Prior to the beginning of its fiscal year, the budget must be reviewed and approved by Board resolution and submitted to HUD. Condition: The 2023 operating budget was not submitted and approved before the beginning of the fiscal year. Questioned Cost: Not applicable. Cause: The operating budget was not submitted and approved before the beginning of the fiscal year. Effect: The budget approval is not in compliance with HUD regulations. Prior Year Finding: This was not a prior year audit finding. Information: Sampling was not applicable to this finding and systematic problem. Recommendation: We recommend that the Board of Commissioners be provided with a Public Housing budget in adequate time to approve within HUD guidelines. Management’s Response: The Executive Director will start the budget process timely and present to the Board at the May meeting each year.